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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements of Asset and Liability Instruments

The carrying amounts of derivative instruments and environmental credit obligations at June 30, 2025 and December 31, 2024 were as follows:

												Fair Value by Input Level
						Carrying Amount						Level 1						Level 2						Level 3
						(In millions)
June 30, 2025
Assets:
NYMEX futures contracts						$	1					$	1					$	—					$	—
Commodity forward contracts						2						—						2						—
Total assets						$	3					$	1					$	2					$	—
Liabilities:
Commodity forward contracts						$	1					$	—					$	1					$	—
Foreign currency forward contracts						10						—						10						—
Environmental credit obligations						103						—						103						—
Total liabilities						$	114					$	—					$	114					$	—

												Fair Value by Input Level
						Carrying Amount						Level 1						Level 2						Level 3
						(In millions)
December 31, 2024
Assets:
Commodity forward contracts						$	1					$	—					$	1					$	—
Foreign currency forward contracts						18						—						18						—
Total assets						$	19					$	—					$	19					$	—
Liabilities:
NYMEX futures contracts						$	1					$	1					$	—					$	—
Commodity forward contracts						1						—						1						—
Environmental credit obligations						10						—						10						—
Total liabilities						$	12					$	1					$	11					$	—

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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